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Thread: Black Monday 1987

  1. #1

    Black Monday 1987

    I'm sure several forum members remember October 19, 1987, aka Black Monday.

    I was 22 years old and had just invested my life's savings into two different mutual funds on Thursday, October 15th. $10,000 hard earned dollars were worth about $6,000 the next week. I didn't sell and actually kept buying as I could and stuck to it. It hurt, but calm heads won. The only saving grace for me was that the MN Twins won the World Series, something I thought I'd never get to see.

    Just a friendly pointer to young investors on the forum, there are going to be corrections in your investment lifetime, take them in stride and stay the course. It really does work.

  2. #2
    I remember that time. On the friday before it I bought short term CD with Merrill Lynch.

  3. #3
    I was working brokerage in a S&L. I sold a lot of government bonds to your typical S&L clients who really thought they were diversifying from CD' s. They were all in a panic that day. When I called them back to tell them they made money, they were surprised. For some it was the first time that they really understood what they owned.

  4. #4
    I vividly remember. I was in the IT industry supporting systems that tracked fund ownership. We had a SR VP come by and tell us volumes would likely go through the roof.

    He was right.They did. We knew those systems like family, they had unique behaviors. That day they behaved like mad Chucky dolls, acting out in new and unusual ways.

    How do you run out of resources you had to pretend exist? Actually this was a very good day for me professionally. I was the lucky guy who found a bit turned on that shouldn't have been. Made everything start working again. Raises were excellent that year.

    I had retirement money in the market thanks to Megacorp. Could not sell it so letting it ride was the only option and the right one.

  5. #5
    I was a bartender, working a stock broker dinner. Out of ~35 people that were supposed to be in attendance, only three showed up.

    I was in college and really did not have much invested.

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